The European Bank for Reconstruction and Development (EBRD) granted Raiffeisen Leasing 132 million RON, the first loan EBRD granted in the local currency on the Romanian leasing market, representatives of the European financial institution announced.
The loan is devoted to funding equipment and vehicles.
‘We are pleased to increase the availability of financing to Romanian businesses through our continued cooperation with Raiffeisen Leasing. Leasing is often the most efficient way for SMEs to obtain long-term funding for their expansion. By providing this financing in local currency we are also mitigating foreign exchange risks and boosting the RON-denominated leasing market,’ shows Noel Edison, EBRD Director for Insurance and Financial Services in a release to Agerpres.
‘We are very happy to continue our partnership with the EBRD, which has become a reliable partner and a source of constant support for us. This loan will help us to meet rising financing requests from small and medium-sized enterprises and to offer a more diverse product line for our customers. The new financing line in RON completes our existing product range in local currency, dedicated to customers who want to minimise the credit risk and uncertainty associated with a foreign currency loan,’ underscores Felix Daniliuc, General Manager at Raiffeisen Leasing in Romania.
Since the beginning of its activity in Romania in 1992, the EBRD has allotted loans worth over 7 billion euros to different sectors of the Romanian economy, loans that drew additional investments accounting for approximately 14 billion euros.